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Looking at the daily chart, price is hugging the downtrend line drawn across
the 1/28 and 2/10 pivot highs which suggests an upside break is likely. On
the other hand, we lack the typical triple fib thrusts which accompany
declines like this (the previous decline between 12/10 and 1/11 was
completed in two thrusts). Short interest in the futures has been rising
strongly indicating the expectation of further decline but would provide
lots of fuel for a sharp rally. The weekly chart shows less uncertainty to
me and the decline appear to be well underway with projection to 120^28.
Earl
-----Original Message-----
From: Bob Hunt <RHunt.066@xxxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Sunday, February 21, 1999 9:35 AM
Subject: March Bonds
>
>Content-Transfer-Encoding: quoted-printable
>X-MIME-Autoconverted: from 8bit to quoted-printable by accessone.com id
IAA05113
>
>Below is the automated print-out for March Bonds after trading on
>Friday, 2/19, for preparation in day-trading on Monday, 2/22.
>
>I've got mixed feelings on this one. Although the print-out is telling
>me to favor longs, the Double Stochastics and 7 period %K on 200
>minute bars (half day) are still telling me that we have some downside
>left to the most recent short-term cycle (attached chart).
>
>With the equities coiling as tight as they have been recently, I would
>imagine the next significant direction in bonds is going to be
>determined by the breakout direction in equities. Come Monday, I'll be
>trading with an equities chart close by!
>
>Again, this is an automated print-out created in TS to provide a
>"heads-up" for tomorrow's trading in the bond market (Monday, 2/22).=20
>Although it should be obvious to most, these should not be construed
>as systematic entries and exits to be taken in mechanical fashion. . .
>but more as "cues" that you may want to consider while day-trading
>this market.
>
>Bob Hunt
>
>-------------------------------------------------------
>990219
>
>TODAY IS AN NR4 DAY!
>If during the day tomorrow yesterday's high of 123-26 is exceeded then
>either buy the breakout (agr.) or look to buy a retracement to the
>breakout (cons.). If during the day tomorrow yesterday=92s low of=20
>122-29 is exceeded then either sell the breakout (agr.) or look to
>sell a retracement to the breakout (cons.).
>*** If no other direction is specified by other indicators ***
>** favor that of the 100 min. 5 Double Stoch 2 period slope.**_FLAT_
>
>Today is a 2 Day ROC BUY day - Look for intraday signals to go long
>
>Today is an NR4 & 2 Day ROC BUY Day. DEFINITELY TRY TO GET LONG!
>
>REMEMBER TO MONITOR FOR ANY HOLY GRAIL SETUPS TODAY! If the 5/15/30/60
>or 120 min ADX>30 then look to trade the bounce against that period's=20
>20 EMA with the last intraday swing pivot extreme as the target.
>
>TRADING RANGE MKT:=20
>If both the 30 and 60 min. ADX < 30 then look to trade S&R
>
>Watch for OOPS! Trade - If O < YL then buy YL on a stop.
>
> USH9 ID
>R3 124 23/32
>R2 124 8/32
>R1 123 25/32
>DP 123 11/32
>S1 122 28/32
>S2 122 14/32
>S3 121 31/32
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